1st Edition
Corporate Risk and Governance An End to Mismanagement, Tunnel Vision and Quackery
Corporate Risk and Governance addresses corporate risk management and governance requirements affecting large organizations in all industry sectors and countries. The book strongly advocates implementation of Corporate Governance Codes, ISO 31000 Risk Management, ISO 22301 Business Continuity Management and PAS 200 Crisis Management but warns against treating any standard or model slavishly, as if it can offer easy salvation or a simple route to a risk nirvana. Alan Waring challenges many hallowed beliefs, attitudes and practices that continue to hamper the delivery of effective Enterprise Risk Management (ERM) and thereby good governance. Those boardroom and corporate cultures that are complacent about risk exposures and risk management or, worse, encourage ’chancers’ and a ’what can we get away with’ attitude, are examined in depth along with what is required to embed a culture of responsible risk-taking. Some 75 cases from around the world provide graphic examples and lessons to be learned. Although the text includes some summary practical guidance, this book is designed primarily as a thinking aid rather than a risk management cookbook. It is something to encourage better informed risk-decision making; a more informed view of enterprise risk exposures, control and mitigation issues and an awareness of boardroom and corporate culture issues and their impact on effective ERM.
Biography
Dr Alan Waring has 35 years’ experience in risk management. He has been a full time risk management consultant since 1986. Typically working with boards, board risk committees, individual directors and senior executives, his assignments in many industry sectors on several continents have included governance-related corporate risk reviews for large organizations as well as a wide range of strategic and operational risk issues. His previous books include Managing Risk (1998), co-authored with Prof Ian Glendon, and Practical Systems Thinking (1996). He is a Fellow of the Institute of Risk Management.
’Dr Alan Waring, a reflective practitioner with a solid academic base, set himself a main objective to write a book on corporate risk and governance that is accessible to the serious student and the practitioner with responsibility for the management of risk, as well as to senior managers generally. I believe he has achieved that objective. This book is predominantly a thinking aid rather than a raw prescriptive aid and is likely to inform and stimulate the interested reader. It provides a penetrating coverage of risk management and draws on a comprehensive published base, aided by his substantial experience as a consultant in strategic risk management in a variety of settings. The main settings are corporate governance, culture, due diligence, fraud/corruption, and intellectual property. The author pays particular attention to detail, with a strong analytical bias, and the book is well written. Also, the illustrative and case material is a real strength in highlighting the issues and principles that are addressed throughout the text.’ Eugene McKenna, Emeritus Professor, University of East London, UK ’One of the author’s declared objectives is to aid your thinking about risk management and corporate governance. This book certainly will do just that! The sheer number and variety of case studies will encourage the reader to assess the relevance of specific issues to their management of risk and to take appropriate action.’ Christopher J Luck - Independent Risk Management Consultant ’Alan Waring is well qualified to write this book. He has written extensively on this topic including previous books and this is supplemented by academic study and a wealth of practical experience. The quality of the output reflects this. The book takes account of the global implications of ineffective corporate risk management and provides a guide to the causes of failures and potential remedies that can reduce risks across sectors and organisational types. The wi
